Business And Commercial Law - Patrick, Beard, Schulman & Jacoway, PC

Running a business is a full-time job. You have sales to make, a budget to balance, employees to deal with — and to top it all off, you sometimes have to deal with legal matters such as drafting and reviewing contracts and business planning. To make sure your business runs as smoothly as possible and avoids lawsuits, it’s best to trust an attorney to oversee your important contracts, documents and business ventures. Patrick, Beard, Schulman & Jacoway, P.C. has worked extensively with entrepreneurs like you, so we have firm knowledge of business law in Tennessee. We review your business plans and advise you on other business issues so you come out ahead.

Business Transactions

We help you minimize risk and maximize profit when selling

Buying or selling a business can be one of the most exciting times in your life. With business ownership, comes an opportunity to cash in. If you’re selling your current business, however, the process is sometimes bittersweet. It can be difficult yet satisfying to surrender the reigns to someone else. Though there are many positives to buying or selling a business, the process also involves risk — and no matter how good something looks on paper, a seemingly good deal can quickly turn sour. That’s why you need an experienced business law firm like Patrick, Beard, Schulman & Jacoway, P.C. to help minimize your risk and protect your personal and financial interests.

We protect you and your business

Though it's tempting to trust a broker when you're purchasing or selling a business, keep in mind that he or she is not a lawyer. The same can be true during a franchise purchase if you’re dealing with a franchisor who cares more about the sale than your business. As your business attorneys, we help you address important questions such as:

What are the terms that should be included in the agreement to protect me?
What is the best way to structure the purchase?
Are you paying a fair price?
Does the real estate or inventory have any existing liens?
Have all employment taxes been paid?
If buying a franchise, how much support will the franchisor provide you after the sale?

During the due diligence process, you’ll have many questions. Patrick, Beard, Schulman & Jacoway, P.C. is happy to assist you in answering these questions and guide you through your business transaction.

Tackling problems before they arise

Our AV-rated attorneys understand that each situation is unique, and, depending on your circumstances, we can fight aggressively, negotiate, or proceed quickly. With significant trial experience in commercial litigation — we know how the law works, which has enabled us to return many successful verdicts for our clients.

Asset or stock purchase agreements
Buy-sell agreements
Equipment leases
Employment contracts
Customer contracts
Real estate leases
Loan agreements
Consulting agreements
Non-compete agreements
Vendor contracts
Software licensing agreements

At Patrick, Beard, Schulman & Jacoway, P.C., we work with you to review the purchase or sale of your business — from the initial stage through due diligence and down to the final sale. Even after the sale is finished, we stick with your business and provide legal advice as needed. We understand that buying or selling a business is possibly one of the biggest decisions you’ll make. Our attorneys strive to provide you with guidance at every step of the process.

Call 423-266-7327 or Toll Free 866-691-0416 or contact us online to schedule an initial consultation. You can also visit our Market Street office just one block from the Hamilton County District Attorney’s office, the Hamilton County Criminal Clerk’s office and the Chattanooga City and Hamilton County Clerk’s offices. Complimentary on-site parking is available, and we accept all Visa, Mastercard, Discover and American Express.

Lawyers for this Practice Area

Business Formation Start Up and Governance

Business Planning and Administration

Business planning decisions dramatically affect how your business functions throughout its life. You’ll decide which business model to adopt, what types of policies and guidelines your employees must follow, and most important, what happens to your business when you are no longer able to run it. Our law firm helps clients build a secure foundation for their business, assisting with planning and administrative tasks that include:

Confidentiality or non-compete agreements
Employee retention strategies and agreements
Sales contracts
Employee buyouts
Shareholder agreements
Buy-sell agreements
License agreements
Succession planning

With more than 280 years of combined experience, the team at Patrick, Beard, Schulman & Jacoway, P.C. steers entrepreneurs like you down the path that provides the greatest opportunity for success.

We help you build a rock-solid business

Planning for the future of your business can be overwhelming at times. Our firm has significant experience in commercial litigation, so we know the precautions you must take for your business to run effectively. In working with you to determine your goals and address any of your concerns, we patch any holes we see in your business strategy and help you avoid costly mistakes that endanger your business in the long term.

We get entrepreneurs off to a strong start

As a contemplated, new or existing business, you have an important decision to make: Which entity is best for you? You’ve probably heard advice from friends, family members, and business partners, and even from sources on the internet who claim to be trusted advisers. However, when determining the most appropriate structure for your goals, it’s in your best interest to consult with a law firm that deals extensively with these matters. At Patrick, Beard, Schulman & Jacoway, P.C., we know business. Our attorneys take the time to help you sort through the pros and cons of LLCs, partnerships and corporations so you can decide what’s right for your business.

We look after your interests to limit your liability and improve your bottom line

Do you want an experienced, trustworthy attorney to guide you through all the legal details of starting your business? Do you need someone who can address your concerns about the future of your existing company? Patrick, Beard, Schulman & Jacoway, P.C. understands that starting or maintaining a business requires careful planning. The decisions you make now affect your success in the future. When you need help with business planning decisions, we serve as your trusted adviser(s), directing you in a way that best fits the needs of your business and reduces your risk of making costly mistakes down the road.

Things to consider when choosing a business entity

When deciding on an entity, you must consider many factors. Choosing the wrong type of entity can cost you each year and especially when you decide to sell the business. One type of entity may work for one business but be entirely wrong for another. Each entity has benefits, and the one that’s best for you depends on your business goals:

Sole proprietorship: The most risky form of entity in personal liability for business debt; a business owner lists income and expenses on his or her own tax return.

General or limited partnership: Each partner assumes a differing amount of risk.

C or S corporation

Professional corporation

Limited Liability Company (LLC)

Limited Liability Partnership (LLP)

Joint venture

Nonprofit corporation

The attorneys at Patrick, Beard, Schulman & Jacoway, P.C. help you match your objectives to the right business entity.

Disputes between business owners

Business owners start out thinking they will be in business together forever. Unfortunately, differences often occur between partners, which if not resolved, can lead to expensive litigation and even cause the business to fail. We can help you structure the business to minimize the possibility of dispute, to provide a legal framework to resolve the dispute and if all else fails, to represent you in court.

Lawyers for this Practice Area

Intellectual Property and Trade Secrets Law and Litigation

Patrick, Beard, Schulman & Jacoway, P.C.’s attorneys represent businesses and individuals in protecting their trade secrets, trademarks, and copyrights from misappropriation or infringement. The lawyers proactively advise clients in taking actions to protect their intellectual property through drafting agreements with employees to protect trade secrets and other intellectual property, advising clients on maintaining the validity of their trade secrets and other intellectual property, and in registering trademarks and copyrights. The lawyers also prosecute litigation or defend against litigation in these same intellectual property rights areas.